What is an NFT Game?
NFTs (Non-fungible tokens) are unique digital collectibles backed by a Blockchain. NFTs are available as characters, skins, outfits, or other items that gamers can exchange for real currency.
NFT-based games have gained enormous significance in the Metaverse as they provide new opportunities for earning income. For example, collectors purchase in-game assets from other gamers, and the P2E (Play-to-Earn) game model lets them earn more tokens.
How Can You Benefit from NFT Games?
At present, many artists have earned millions from creating their NFTs. There is also a factor of the popularity associated with NFTs. If it comes from a celebrity or a public figure, the price will shoot in millions. Moreover, usage of the ERC-721 token from Ethereum is the standard for NFT. In addition, platforms such as NEO (Blocklords), TRON, and EOSIO are also appreciated for their commendable services. The main highlighted NFT advantages in games include:
Buying items in conventional game applications remain fixed in the particular environment and are not transferable to other players. However, with NFT power, games move into another dimension. Here, the player owns the items rather than the developer. Blockchain enables gamers to sell their collectibles to others for profit. Additionally, they can also move assets to other supported environments. While exchanging or selling, sometimes the platform or creator charges a small portion as a transaction fee.
A One of its Kind
Holding collections that are unique or rare is what every collector wants. And NFTs scarcity is provable on Blockchain-based immutable networks. The publicly distributed ledger proves the NFT's uniqueness, along with the details related to its previous ownerships.
Typical multiplayer games' existence relies on a centralized mechanism. And the interaction of assets inside a game with each other does not occur at all. While NFT games, on the other hand, are based on the independent Blockchain decentralized concept, serving as the core for interconnecting multiple game environments. It allows a gamer to move NFT items from one environment to another, which is interoperability. However, it becomes possible only when both games exist in the same network, like Ethereum. Then players can use their in-game items like characters and vehicles in the other supported environment.
When a game faces an unexpected shutdown or service termination, all player purchases in the game end up with that. However, in the NFT case, game items live independently on the Blockchain rather than in the game itself. So, whatever happens to the game, your items do not get affected in terms of purchase loss. Also, utilizing them in other game environments is an option that we elaborated earlier. Moreover, there is no chance of copying and modifying game assets as they exist permanently on the distributed Blockchain network.
How Much Does It Cost to Develop NFT Games?
Cost is the prevalent determining factor in any development. Holding the same vein, it is crucial to take certain things into account and understand them when analyzing the cost of NFT game development.
Determining the cost is not easy to do and takes lots of research. There are many things to consider when evaluating NFT game costs. Some of them include tools, technologies, audience, platform, region, number of features, design, and complexity.
Therefore, NFT game development costs in Europe or the US will be higher than in the other region because of their market metrics.
Application design and tools used in development also highly influence the cost. In short, the price of development is directly proportional to the number of features and advanced technology. Aside from this, backend and frontend development, testing tools, and UI/UX design also lead to an upward trend in cost.
As stated above, NFT game development costs are higher than a traditional app or game development. However, with an optimized approach, one can get maximum from minimum.
In-house Cost for NFT Game Development
The existence of NFT in the game domain is relatively new, and even a well-versed development company can face the skill gap in their team. Market dynamics change quickly and require engineers to remain up-to-date with the trends to come up with the desired development solutions. Considering an in-house team is a viable option but requires a lengthy search for engineers. An expert with knowledge of the domain needs to be sought, then an interview and team-building process needs to be undertaken.
However, there are advantages like process control, rapid interaction, everything under one roof, and reduced cost of NFT game development.
Time to build a team, in-house costs, a dedicated team leader, and conducting training sessions on the latest technologies are seen as disadvantages.
NFT Game Design Cost vs. Game Development Cost
Every project cost is determined by its complexity, features, technology, and other crucial factors. However, with a roughly estimated idea, NFT game development costs range between $15,995 and $58,020. And in this bracket, the design cost takes place somewhere around $630 – $2520.
But again, these figures can change according to the project requirements and design complexity.
Cost of NFT Game Development in Unity
Unity personal plan allows individuals, startups, and small businesses to program games for free. So, the NFT game cost with Unity Engine is free. However, for companies operating on a larger scale, Unity has commercial plans. Businesses having an income of less than $200K in the last 12 months are eligible for the plus plan.
If you are more interested in learning how to develop an NFT game with the Unity game engine, check out this blog.
Cost of NFT Game Development in Unreal Engine
You won't have to pay for the full edition of Unreal until your game generates $1 million in gross revenue. If it exceeds the cutoff point, you must pay 5% of the gross earnings from your game. So again, the cost of NFT Game Development with Unreal Engine is negligible at the initial stage.
Which Game Engine is Cheaper for NFT Games?
The game is not about which option is less expensive to choose. Both engines have their strengths and weaknesses. As with any development cost, the NFT game cost derives from the concept. If the idea takes more effort to build, the price will rise up.
Is an NFT Game Profitable?
Yes, but market demands and game mechanics influence profitability and earnings. Typically, the player who derives money from NFTs is from the other user who earn them in the game. If one holds the NFT, they have to trade it to gain profit in the form of real cash. Putting it up for auction is also an option for many. But it also depends on how popular the game is; more popularity means higher value. From a recent statistics report, Alien Worlds alone captured more than 1 million users in January. This reveals how much potential lies in the NFT game market.
Who Can Develop an NFT Game?
Out of many, only a few have experience in developing seamless NFT games. One common way is to outsource a company and achieve the highest quality of work. The client is only required to speak about his vision, and a development company takes care of all the process.
Then another option is freelance. It is best suited for small projects like NFT drops and is a highly used method in the US region. They find it cheaper than outsourcing a development company. However, there is also some risk that comes with a more affordable price.
Last but not least is an in-house development, which we have already discussed earlier.
How Can Cubix Help Develop Your NFT Game?
Given the rapid growth of digitalization and cryptocurrencies, crypto games are highly demanded. They're causing a stir in the industry because of their amusing and compelling features.
If you're interested in developing a sophisticated and scalable Blockchain or Crypto game, you've come to the right place. Cubix is a renowned digital product development firm that creates web and mobile-based solutions for its clients.
We've got you covered on all fronts, from concept to implementation, to offering the most competitive NFT game development cost. Our team of top engineers and specialists will walk you through every stage of the app development process. To provide the most tailored, customized solutions, we will adapt to all of your goals and preferences.